StockNews.com Begins Coverage on Cellectar Biosciences (NASDAQ:CLRB)

Research analysts at StockNews.com started coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a report issued on Saturday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

CLRB has been the subject of several other research reports. Oppenheimer restated a “market perform” rating on shares of Cellectar Biosciences in a research note on Wednesday, December 11th. LADENBURG THALM/SH SH initiated coverage on Cellectar Biosciences in a research report on Thursday, December 5th. They issued a “buy” rating and a $13.00 price objective for the company.

Cellectar Biosciences Trading Up 0.7 %

CLRB opened at $0.31 on Friday. The stock has a fifty day moving average price of $1.41 and a 200 day moving average price of $1.96. Cellectar Biosciences has a 1 year low of $0.22 and a 1 year high of $4.45. The stock has a market cap of $12.74 million, a price-to-earnings ratio of -0.18 and a beta of 0.89.

Cellectar Biosciences (NASDAQ:CLRB) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) EPS for the quarter. As a group, sell-side analysts forecast that Cellectar Biosciences will post -1.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CLRB. Geode Capital Management LLC raised its position in shares of Cellectar Biosciences by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after acquiring an additional 11,266 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Cellectar Biosciences in the third quarter worth $27,000. Sequoia Financial Advisors LLC bought a new position in shares of Cellectar Biosciences during the third quarter worth $51,000. XTX Topco Ltd grew its holdings in shares of Cellectar Biosciences by 432.4% in the 2nd quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after buying an additional 51,413 shares during the period. Finally, AIGH Capital Management LLC increased its position in shares of Cellectar Biosciences by 8.2% in the 2nd quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock valued at $7,590,000 after buying an additional 231,270 shares in the last quarter. Institutional investors own 16.41% of the company’s stock.

About Cellectar Biosciences

Cellectar Biosciences, Inc, a clinical biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for the treatment of cancer. Its lead phospholipid drug conjugate (PDC) candidate is CLR 131 (iopofosine I-131), which is in Phase 2 clinical study for patients with B-cell malignancies; Phase 2a clinical study for patients with relapsed or refractory (r/r) Waldenstrom's macroglobulinemia cohort, r/r multiple myeloma (MM) cohort, and r/r non-Hodgkin's lymphoma cohort; Phase 1 clinical study for r/r pediatric patients with select solid tumors, lymphomas, and malignant brain tumors; and Phase 1 clinical study for r/r head and neck cancer.